Government Hates Crypto Because It Empowers the People, Not Because It’s Used for Crime

A recent article from MIT Technology Review has leveraged a somewhat sensationalist headline to stir up fear about bitcoin and crypto. The article, written about a “hidden” government weapon to be deployed against Bitcoin, references September 3 senate subcommittee testimony by Washington D.C. consulting firm Financial Integrity Network. In the testimony, Vice President of the firm David Murray calls for the Bank Secrecy Act to be expanded to include regulating bitcoin miners as traditional financial institutions. With the U.S. dollar already backing most crime worldwide, one is left to wonder why so much focus is directed at crypto, and so little at the largest perpetrators of violence on earth — governments.

Also Read: The 3 Top Drivers of Crypto Adoption – BCH City Wrap-Up

Sordid Affairs at MIT

While the MIT publication drums up fear of unfeasible regulation of bitcoin miners via an almost 50-years-old “hidden weapon,” things at the crypto-involved Massachusetts Institute of Technology aren’t looking so regulated, either. Last week’s resignation of head of the MIT Media Lab, Joi Ito, follows the revelation that he had been secretly accepting huge donations from then-convicted sex offender Jeffrey Epstein, who was arrested for additional charges of sex trafficking of